G.F. 316
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Page No. 4 of 12 pages
11.
A container manufacturing plant has been officially opened in Guangzhou. The three partners in this compensation project are the Guangzhou Shipyard, a Hong Kong investment company and an American-based leasing company. The foreign partners will supply the equipment and materials and purchase the output, while the Chinese organisation will provide services and labour and, in due course, repay the loan. Two further container construction plants in Guangzhou, organised on a similar basis, are planned to be in production by the end of 1981 (para 6, August 1979 and para 15, March 1980 Reports). Another Hong Kong firm, Wong's Engineering Consultant Co. has joined with the Shanghai Dredging Corporation to form the China Technical and Commercial Consultant Corporation, which will tender for major international harbour contracts (dredging, reclamation, etc.) especially in the Middle and Far Eastern regions and also in Hong Kong.
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The first phase of a new hotel, The Bamboo Garden, with an associated telephone exchange has been opened in Shenzhen. The development is by Millies Industrial and Services Group Ltd., one of the first Hong Kong firms to invest in Shenzhen it set up a leatherworks there in early 1979.
13.
A Hong Kong development company, Real Time Ltd., has signed an agreement with the municipal authority of Foshan, some 12 miles south-west of Guangzhou, to build a 400-unit housing complex linked with an office block for use by the authority. The cost is about HK$160 m.
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A Swiss development company, Bihag Brander, has reached agreement with the Guangdong authorities to provide further major tourist facilities at Shenzhen. The agreement is for the construction to the west of Shenzhen Reservoir of a 839-room hotel, a television station, conference facilities for up to 2,000 people, 3 office and shopping blocks, 400 houses, an artificial lake, a golf course and other recreational facilities. The estimated cost is US$350 m. The first phase, which is to begin this year, will take 3 years to complete.
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para 15.
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